S&P revises 14 Russian banks’ ratings amid economic recovery

MOSCOW, Oct 13 (PRIME) -- International rating agency S&P has reviewed the ratings of 14 Russian banks, raising or confirming them in light of the improving economic situation in the country, the agency said in a statement on Wednesday.

The long-term ratings of Gazprombank and Alfa Bank were upgraded to BBB- with stable outlooks from BB+. The rating of Soyuz Bank was upgraded to BB- from B+, of CentroCredit Bank to B+ from B, of the Ural Bank for Reconstruction and Development -to B from B-.

Promsvyazbank’s rating was affirmed at BB and the outlook was improved to positive.

The agency also affirmed the ratings of VTB, Raiffeisenbank and UniCredit Bank at BBB- with stable outlooks.

The ratings of Sovcombank and Credit Bank of Moscow were affirmed at BB with positive and stable outlooks, respectively. The outlooks on the ratings of Renaissance Credit, B+, and Russian Standard Bank, B, were improved to positive from stable.

RN Bank’s rating was affirmed at BB+ with stable outlook.

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